Welltower Inc. (WELL) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 670.01M | 654.33M | 858.36M | 770.03M | 598.96M | 559.21M | 684.98M | 605.42M | 406.81M | 370.5M | 439.06M | 416.25M | 376.06M | 253.39M | 355.99M | 394.81M | 324.52M | 283.33M | 353.08M | 335.25M |
| Operating CF Growth % | 11.86% | 17.01% | 25.31% | 27.19% | 47.23% | 50.93% | 56.01% | 45.45% | 8.18% | 46.22% | 23.33% | 5.43% | 15.88% | -10.57% | 0.82% | 17.76% | 6.87% | 11.03% | 18.5% | -16.14% |
| Operating CF / Revenue % | 19.99% | 20.88% | 32.66% | 30.6% | 25.08% | 25.2% | 34.06% | 33.77% | 22.22% | 21.57% | 26.99% | 26.32% | 24.23% | 16.79% | 24.24% | 28.03% | 23.35% | 21.86% | 28.63% | 29.56% |
| Net Income | 752.32M | 117.77M | 282.19M | 304.62M | 257.27M | 123.75M | 467.24M | 254.71M | 127.15M | 83.91M | 134.72M | 106.34M | 28.64M | 1.8M | -2.65M | 95.67M | 65.75M | 66.19M | 190.34M | 45.76M |
| Depreciation & Amortization | 622.75M | 606.88M | 523.67M | 508.35M | 499.64M | 484.62M | 418.99M | 397.06M | 378.96M | 1.24B | 350.04M | 352.07M | 348.82M | 349.38M | 362.51M | 315.75M | 309.26M | 288.21M | 271.73M | 245.08M |
| Stock-Based Compensation | 18.83M | 1.51B | 15.59M | 15.26M | 17.5M | 13.36M | 39.91M | 10.35M | 12.05M | 8.42M | 8.82M | 10.5M | 9.46M | 6.69M | 5.99M | 6.02M | 7.45M | 2.94M | 4.54M | 4.76M |
| Other Non-Cash Items | -474.99M | -1.42B | -4.35M | -30M | -39.43M | 22.45M | -303.22M | -109.34M | -39.59M | -864.8M | -79.51M | -53.36M | -12.74M | 3.45M | -14.94M | -19.74M | -28.51M | -21.21M | -118.4M | 27.16M |
| Working Capital Changes | -248.91M | -157.84M | 41.26M | -28.19M | -136.02M | -84.96M | 62.06M | 52.63M | -71.76M | -95.88M | 20.4M | -2.82M | 1.89M | -112.02M | 1.82M | -5.96M | -24.42M | -58.68M | 9.82M | 10.29M |
| Cash from Investing | -807.19M | -5.46B | -1.63B | -1.4B | -2.03B | -2.21B | -1.45B | -1.28B | -580.93M | -3.14B | -1.24B | -393.38M | -932.84M | -419.31M | -1.2B | -1.28B | -808.55M | -1.53B | -1.78B | -1.07B |
| Acquisitions (Net) | -1.11B | -10.07B | -1.14B | -1.16B | -2.04B | -1.9B | -1.13B | -587.13M | -166.6M | -2.56B | -710.73M | -114.71M | -515.54M | -124.7M | -904.21M | -1.06B | -716.66M | -1.47B | -2.12B | -397.27M |
| Purchase of Investments | -1.38B | 14.7M | -23.92M | -8.23M | -59.2M | -11.76M | -12.09M | -25.46M | -11.72M | -527.31M | -569.5M | -378.06M | -474.43M | -338.65M | -338.26M | -418.91M | 0 | -15.71M | 2.88M | -1.09B |
| Sale of Investments | 737.93M | 0 | 0 | 0 | 37.83M | 9.38M | 4.08M | 5.72M | 913K | 0 | 103.94M | 11.19M | 37.25M | 99M | 27.81M | 103.83M | 0 | 5.21M | -718K | 420.83M |
| Other Investing | 1.34B | 4.61B | -456.19M | -222.48M | 44.22M | -287M | -291.45M | -657.46M | -389.72M | -78.31M | -47.1M | 100.08M | 30.22M | -45.19M | 24.27M | 107.38M | -1.66M | -45.81M | 338.63M | 509K |
| Cash from Financing | -199.54M | 3.03B | 3.24B | 1.42B | 1.31B | 1.59B | 1.68B | 1.06B | 578.57M | 2.14B | 1.21B | 1.63B | 470.47M | 457.04M | 830.62M | 968.51M | 505.11M | 1.23B | 987.03M | -1.02B |
| Dividends Paid | -520.5M | -509.62M | -496.92M | -439.06M | -432.37M | -418.23M | -408.77M | -366.09M | -352.18M | -338.29M | -318.69M | -303.4M | -300.19M | -298.23M | -283.45M | -276.8M | -273.05M | -265.45M | -260.79M | -254.75M |
| Common Dividends | -520.5M | -509.62M | -496.92M | -439.06M | -432.37M | -418.23M | -408.77M | -366.09M | -352.18M | -338.29M | -318.69M | -303.4M | -300.19M | -298.23M | -283.45M | -276.8M | -273.05M | -265.45M | -260.79M | -254.75M |
| Debt Issuance (Net) | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -60.24M | -412.62M | -59.2M | -43.61M | -117.59M | -197.51M | -49.13M | -79.18M | -4.28M | 29.84M | -74.17M | 52.08M | 36.31M | 40.51M | 28K | -6.98M | -179.91M | 41.02M | -25.27M | -51.94M |
| Net Change in Cash | -390.25M | -1.73B | 2.42B | 913.23M | -101.17M | -72.95M | 920.81M | 385.26M | 402.25M | -610.63M | 387.64M | 1.66B | -83.5M | 297.11M | -17.07M | 75.21M | 20.29M | -15.89M | -446.06M | -1.75B |
| Exchange Rate Effect | -53.53M | 37.2M | -51.48M | 123.83M | 19.84M | -16.76M | 7.7M | -463K | -2.19M | 25.51M | -22.87M | 5.57M | 2.81M | 5.98M | -4.43M | -11.4M | -790K | -169K | -2.84M | 638K |
| Cash at Beginning | 5.21B | 6.94B | 4.52B | 3.61B | 3.71B | 3.78B | 2.86B | 2.48B | 2.08B | 2.69B | 2.3B | 638.8M | 722.29M | 425.18M | 442.25M | 367.04M | 346.75M | 362.64M | 808.7M | 2.56B |
| Cash at End | 4.82B | 5.21B | 6.94B | 4.52B | 3.61B | 3.71B | 3.78B | 2.86B | 2.48B | 2.08B | 2.69B | 2.3B | 638.8M | 722.29M | 425.18M | 442.25M | 367.04M | 346.75M | 362.64M | 808.7M |
| Free Cash Flow | 281.71M | 646.85M | 852.21M | 761.38M | 587.44M | 545.05M | 669.32M | 590.94M | 393M | 355.95M | 425.11M | 404.38M | 365.72M | 243.62M | 347.13M | 388.42M | 319.04M | 278M | 348.41M | 330.39M |
| FCF Growth % | -52.04% | 18.68% | 27.32% | 28.84% | 49.48% | 53.12% | 57.45% | 46.14% | 7.46% | 46.11% | 22.46% | 4.11% | 14.63% | -12.37% | -0.37% | 17.56% | 6.64% | 10.79% | 18.5% | -16.4% |
| FCF / Revenue % | 8.4% | 20.64% | 32.43% | 30.26% | 24.59% | 24.56% | 33.28% | 32.96% | 21.47% | 20.72% | 26.14% | 25.57% | 23.56% | 16.14% | 23.64% | 27.58% | 22.96% | 21.45% | 28.25% | 29.13% |